Objective

This is a standalone cash benefit policy that aims to provide daily cash for medical expenses arising due to an accident or sickness.

Suited for

This policy can be bought as an individual or family policy covering insured member, spouse and up to 2 children.

What does it do?

If the insured member is hospitalised due to an accident or sickness, the insurance company will pay a daily cash amount up to the stated limit. Accidental medical expenses incurred without hospitalisation are also covered on reimbursement basis. The policyholder can utilize the daily cash as required by him.

Pros

It offers a 5 per cent increase in sum insured on renewal.
Premium paid towards this policy will be eligible for tax deduction under Section 80D of Income Tax Act.

Our View

In the event of hospitalisation, there are various expenses that remain uncovered under basic insurance policies. These may include cost of transportation, accommodation, food of family members and relatives.
This is a useful policy as the daily cash benefit can be utilized to pay for these expenses. It can be bought as an add on to your existing basic health insurance policy for an added coverage.

Eligibility

Entry Age (years)

Minimum

18; 6 months for children

Maximum

50; 18 for children(23 in case child is financially dependent, unmarried, Full time student
in accredited Institute)

Maximum Policy Renewal Age (years)

50

Coverage Type

Individual/ Family

Policy Term (years)

1

Sum Insured (Rs)

As stated in the Scope of Cover. Insured and spouse will be covered for 100% of the sum insured and upto 50% in case of each child for maximum upto 2 children

No Claim Bonus

5% of original benefit is added to the sum insured for a maximum of 5 years

Pre Policy Medical Check Up

Not required

Policy Termination

Either of the insurer or insured member may cancel the policy. Insurer may cancel the policy by giving a 7 days notice. Insurer in such a case will refund a proportionate premium as stated in the policy document

Customer Service

Address

Registered Office:TATA AIG Insurance, 9th Floor, Piramal Towers, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai - 400 01

Mail to

customersupport@tata-aig.com

Call to

1800-266-7780

SMS

TAG to 5616181

Network Hospitals

Http://emeditek.co.in/Network_Provider.aspx

Scope of Cover

Sickness Hospital Cash

pays daily cash benefit of upto Rs 5000 a day for maximum upto 180 days

Accidental Hospital Cash

pays upto Rs 10000 per day to cover incidental expenses for maximum upto 180 days

Accident Medical Expense Reimbursement

reimburses medical bills due to accidental injuries on a day to day basis

Exclusions and Waiting Period

Pre-existing diseases

not covered

No claim period

90 days since inception of the policy

Waiting period

90 days for Sickness Hospital Cash

Deductible

1 day for Sickness Hospital Cash5% for benefit amount for Accident Medical expenses reimbursement